Policy

What is life insurance?

Life insurance provides financial support to preserve your way of life, or that of your family, in the event of an accident, serious illness or even death.

Many people think of life insurance as covering you only when you die; however there are several types of life insurance that provide you with support if you suffer an injury or illness that leaves you unable to work permanently, or for a period of time.

Life can change.  How would your family cope financially if you or your partner became seriously ill and couldn't work?

Being unable to work as a result of an accident or poor health could expose you or your family to financial difficulty. Insurance can provide the money you need in these critical times.

The benefits life insurance provides

While people may find it overwhelming to think about life insurance, there is certainly an important place for it in financial planning.

In fact, without the protection of life insurance coverage, loved ones may need to drastically alter their lifestyle, if the unexpected should occur.

If you suddenly weren’t there to take care of your family:

  • Could they keep up with the mortgage or would they have to sell the home?
  • Is there enough cash in the bank to pay for a funeral?
  • How would they pay for groceries, bills, and school expenses?
  • If your at-home partner died, do you earn enough to employ a nanny?
  • Could your partner or children survive on a government benefit? Would you want them to?

There are many benefits to life insurance:

  • It gives you comfort and peace of mind that you and your family will have support
  • It will replace your salary and protect your assets should anything unplanned happen
  • It will allow you and your family to continue paying bills and any loans or debts without issue
  • It will cover any immediate financial needs
  • It will provide a future for your family

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